Telegraphic Transfer Rates (SG)

Comparison of rates for remittances with DBS, OCBC, Standard Chartered, Citibank and Maybank SG.
All information below relates to business accounts. Most banks offer TT services for personal account but they require a visit to the bank branch. Some offer e-banking TTs as well, e.g. DBS/POSB does it for SGD20.
Some banks might charge middle men agent fees so  beware!


DBS/POSB: 
Link

Outward Telegraphic Transfer (OTT)
Handling commission
Account-holder	Debit from SGD/foreign currency account 1/8% of S$ equivalent of remittance amount, subject to minimum S$10 and maximum S$120 Debit from SGD account via iBanking (only for remittance amount below S$25,000) S$5 for debiting amount equal to or below S$5,000; S$10 for debiting amount above S$5,000
Commission-in-lieu of exchange where no foreign exchange is involved
- If debiting from customer's foreign currency account (for payment to 3rd party only)	1/8% of the S$ equivalent of remittance amount, subject to minimum S$10 and maximum S$120
- If payment using same foreign currency cash	1.5% (for USD, GBP, EUR, JPY, CHF), 2.5% (for AUD), 3.0% (HKD), 5.0% (all other currencies except THB and IDR)
Cable/Telex charge	S$20
Agent bank charges	Where applicable
Standing Instruction for OTT
One-time sign up fee	S$20
Amendment fee	S$10
Processing charges for OTT i.e. handling commission, commission-in-lieu of exchange, cable/telex charge and agent bank charges (where applicable) in above table will apply.
Cancellation/Stop Payment	S$15 per transaction
Amendment fee	S$10 per transaction
Tracer	S$20 per transaction

Inwards:
If crediting to a SGD or Foreign Currency Current Account – S$10 handling commission
If crediting to a Foreign Currency Fixed Deposit Account – Free


OCBC
(link)

Standard Chartered: 
Link

The charges and fees are as follow: Handling commission – 1/8% min SGD30/USD20 max SGD100/USD70 Comm in lieu – 1/8% min USD10 max USD700 Cover cable – SGD20/USD15  Overseas bank charges – SGD50/USD28 all telegraphic transfers are subjected to a daily limit of SGD 20,000.00 or equivalent daily All telegraphic transfer submitted before 3:30pm (Mon-Fri) will be processed on the same business day. Any application submitted after 3:30pm or on public holidays, Saturday and Sunday will only be processed on the next working day. The funds will reach the beneficiary approximately 2 to 3 days later depending on when the beneficiary’s bank releases the funds.

Citibank: 
link

Common Charges

What are the common charges for remittance? Commission charge for outward remittance: (A) Withdrawal from Time Deposit To same party account holder - No charge but postage or cable cost (where applicable) To third party - 1/8% commission (minimum S$20) plus postage or cable cost (where applicable) (B) Withdrawal from Transaction Account Involving foreign exchange 1/8% commission (minimum $20) plus postage or cable cost (where applicable) Not involving foreign exchange 1/8% commission (minimum $20) plus 1/8% in-lieu-of exchange (minimum $10) and postage or cable cost (where applicable) Other charges: Cable cost $30 (Citigold Select customers enjoy 2 monthly waiver) Tracers for investigation $30 NOTE: Third party and other charges may be applicable to inward or outward remittances, (i.e. correspondent bank charges)

Maybank: 
(link)

Outward Remittance

Demand Draft (DD) and Telegraphic Transfer (TT) • Issued in foreign currency against payment in Singapore Dollars 0.125% commission (minimum S$20, maximum S$100) + processing fees • Issued in Singapore Dollars/Brunei Dollars against payment in Singapore Dollars 0.125% commission (minimum S$20, maximum S$100) + processing fees if applicable • Issued in foreign currency against payment in the same currency 0.125% commission (minimum S$20, maximum S$100) plus 1% commission in lieu of exchange, subject to a minimum of S$30 + processing fees Processing fees for TT S$20 (Where applicable, Agent Fee may also apply.) Amendment/Cancellation of Lost DD/TT or Re-purchase of DD/TT S$30 in addition to processing fees (Agent Fee may apply) To receive Demand Draft requested via online banking by registered mail S$3 (Available within Singapore only)

RegionLink Instant Funds Transfer TT to a Maybank account in Brunei, Malaysia, or the Philippines 0.125% commission (minimum S$20, maximum S$100) + processing fees Processing fees S$10 (Where applicable, Agent Fee may also apply.)

RegionLink Online Funds Transfer (Malaysia & Philippines) • To Malaysia S$15 • To Philippines S$6

MEPS • Local Funds Transfer via MEPS S$20 • TTs made through other banks via MEPS S$20 in addition to the other bank's charges

Cashier's Order Issuance/Amendment • Account Holder S$5 • Non-account Holder S$10 Replacement of Lost Cashier's Order/ Cancellation/ Stop Payment S$20 To receive Cashier’s Order requested via online banking by registered mail S$3 (Available within Singapore only)

Visa Money Transfer - via Maybank 2u.com.sg (Online Banking) • To Visa cards issued in RegionLink countries (Brunei, Malaysia & the Philippines) S$5 • To Visa cards issued in all other overseas countries*^ S$8

Charges incurred are non-refundable for unsuccessful transactions.

* Visa Money Transfer is not available to Visa cards issued in the USA, Venezuela, Colombia, Nigeria, Myanmar, North Korea, Indonesia, Belarus, Congo, Cuba, Iran, Iraq, Ivory Coast, Liberia, Sudan, Syria and Zimbabwe.

^ Transfer from a Maybank Visa Card to another Visa card issued in Singapore is considered a cash advance; subject to prevailing cash advance fee of 5% or S$15, whichever is higher, plus finance charge on cash advancement calculated on a daily basis at 2% per month from the date of transaction to the date of full repayment.

We will notify you of any changes by giving you 30 days' notice except where otherwise stated in the Terms and Conditions governing the Bank's relevant Products and Services